Tuesday 17 January 2012 14.16 EST
First published on Tuesday 17 January 2012 14.16 EST

Darlington's existence remains in critical doubt after a day of meetings to discuss keeping the club alive ended with no solid result. The club's administrator, Harvey Madden, of Rowlands Accountants, is understood to have met a businessman, so far unnamed, potentially interested in taking over the club and the outsized 25,000-seat arena in which it plays. A major issue is around £2m owed to the most recent owner, Raj Singh, who put Darlington into administration earlier this month, and how much of that debt an investor would have to settle.

The previous owner to Singh, George Houghton, was reported to be expressing an interest in taking over again at the club he left in administration in 2009, millions of pounds in debt.

Madden, who has stressed since his appointment there is no money, said he would be making no comment until Wednesday, when he is expected to decide time has finally run out, so Darlington will fold unless a deal has been secured. On Monday Madden made all the players, caretaker manager Craig Liddle and the three remaining backroom staff redundant.

Liddle said he is due to meet the administrator at 11.30am on Wednesday, with the players, who did not train on Tuesday, due in at noon.

"I think we are going to be told whether we are carrying on or the club is finished," Liddle, formerly a long-serving Darlington defender, said. "I have been through three administrations at this club but this is by far the most worrying. We have to hope for positive news tomorrow."

Colin Galloway, the club secretary, was laid off on Monday with general manager, Jason Lees, and club accountant, Brian Douglass, and all three turned up to work on Tuesday. The club are preparing for Saturday's scheduled home fixture with Blue Square Bet Conference Premier high-flyers Fleetwood, even though the players have been laid off.

"You can't walk away and we are living in hope," said Galloway. "We are touched by the support we are getting, but we know we are in the last chance saloon now."